A will allows you to specify how you want to leave your estate after your passing. Part of this process involves appointing a personal representative to handle your financial matters when the time comes. To ensure you choose the right personal representative, here is a sampling of the essential duties they will be tasked with.

What Are the Responsibilities of a Personal Representative?

1. File the Will

The personal representative must locate the will and file it with the local probate courts. This opens a probate case and gets the legal process started. Even if your estate is worth less than $50,000, qualifying it for a simplified version of probate under Nebraska law, or your property was already put into a living trust to circumvent this process altogether, the courts will still need to have a copy of the will on file. The representative will be the main point of contact with the courts in all hearings and communications.

2. Send Notifications About the Death

A representative needs to inform the appropriate departments and businesses about the death. They typically contact the Social Security Administration and other government agencies and the banks and credit card companies of the deceased. They also may need to put a notice in the local newspaper informing the public of the death so creditors and others who may have an interest in the estate can file a claim.

3. Inventory All Assets

Taking a comprehensive inventory of the deceased's assets guarantees that the estate is valued correctly. The representative performs this crucial task. They may also need to have significant assets appraised to get an accurate value. The inventory will then become a part of the probate case, and the representative will utilize it to confirm that all items are being distributed according to the terms of the will.

4. Pay Taxes & Debts

Financial management is a central component of the representative's job. They oversee the funds in the estate and pay any outstanding debts and taxes. They will also file income tax returns for the part of the year prior to the deceased's death.

An estate planning attorney will help you design a comprehensive will. David R. Webb, Attorney at Law, has over 30 years of experience serving the Lincoln, NE, area. He offers representation in estate and probate issues and family law cases. Call (402) 477-7577 to schedule a consultation, or visit his website to explore his services.